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December 14, 2010 <br />Community & Economic Development <br />227 West Jefferson Boulevard <br />South Bend, IN 46601 <br />Attn: Ann Kolata & Redevelopment Commission <br />RE: 812 Oliver Plow Court South Bend, IN 46601 <br />Ann, <br />Please accept this letter as a response to your inquiry regarding Raitt Corporation's intent <br />toward new building construction in the Oliver Plow Industrial Park at 812 Oliver Plow Court. While we <br />are excited to see the Oliver Plow Industrial Park begin to make positive strides toward redevelopment, <br />unfortunately we have been unable to secure a suitable tenant to warrant breaking ground with new <br />construction. OPUS (Oliver Plow Universal Site), our development plan, calls for at least one tenant to <br />assume roughly 12,500 square feet of the facility for us to condone the use of private dollars. It is our <br />belief that due to recent and current economic conditions, we will need an additional (24) twenty -four <br />months to foster relationships with local, regional, and national companies looking to relocate or <br />expand operations. <br />We are aware that our three year contract to construct a new building has expired, and <br />respectfully request to extend the current agreement. In the meantime, we will continue to search for <br />the appropriate company using our past approach of; feasibility studies, in -depth company research, <br />internet marketing, and analyzing current industry trends. Also, we plan to broaden our approach by; <br />working closely with a national marketing firm, attending light industrial trade shows to forge good <br />working relationships, and viral marketing. <br />815 West Sample Street • South Bend, Indiana 46601 • (574) 287 -8022 Office <br />www.raittcorp.com <br />